Identification
A white day occurs with no lower shadow and a close near the day’s
high.

The Psychology
The Belt Hold occurs fairly often and is not very reliable. The fact that
the day’s opening price holds as the low of the day and the stock
trends up all day leans bullish, but one really needs to make note of
the overall trend and receive confirmation with an additional up day.

COT was in a nice uptrend when it pulled back to support on declining volume. The Belt Hold candle was playable on the long side because it occurred at support and at 20 (a nice whole number). This candle is much more reliable if played within an uptrend rather than at the end of a downtrend.